Netflix’s positive revenue growth and all-time ad sales were not enough to lift streaming and internet-focused ETFs, all of which traded down after the company reported its third-quarter results. Overall, the communication services sector dipped 0.15% Wednesday morning. The weakness highlights investor wariness of richly valued communication and technology names, despite Netflix’s expansion beyond its core subscription model.
- XLC is in focus as Netflix delivers a margin miss. Track its prices live.
